Method and system to forecast repair cost for assets

ABSTRACT

Systems and methods of the invention relate to forecasting a projected cost for at least repair associated with one or more assets. Based on evaluation of a portion of historic repair data for the one or more assets, a forecast component can create a projected cost to perform a repair. A cost component can aggregate or receive a portion of historic data related to repair costs previously performed. The cost component can further ascertain a repair cost per duration of time for an asset. Based on at least one of the portion of historic data or the repair cost per duration of time, the forecast component can indicate a projected cost for at least one repair for one or more assets.

CROSS-REFERENCE TO RELATED APPLICATIONS

This application claims the benefit of U.S. Provisional Application Ser. No. 61/704,691, filed Sep. 24, 2012, and entitled “VEHICLE REPAIR SYSTEMS AND METHODS.” The entirety of the aforementioned application is incorporated herein by reference.

BACKGROUND

1. Technical Field

Embodiments of the subject matter disclosed herein relate to asset repairs.

2. Discussion of Art

Maintenance performed on vehicles and/or other assets can prolong asset-life and minimize downtime thereof. Although repairs (including preventative maintenance) can extend asset-life, each repair includes a cost based on labor and part(s) to complete such repair. Repairs are often handled on an as-needed basis which strains budget management due to the unpredictability of such procedures.

It may be desirable to have a system and method that differs from those systems and methods that are currently available.

BRIEF DESCRIPTION

In an embodiment, a method is provided that includes at least the following steps: evaluating, with at least one component, a portion of historic data related to costs for repairing one or more assets; identifying, with the at least one component, at least one repair to perform on the one or more assets; and forecasting, with the at least one component, a projected cost to perform the at least one repair on the one or more assets based at least in part upon the portion of the historic data that is evaluated.

In an embodiment, a system is provided that includes a first component configured to evaluate a portion of historic data related to costs for repairing one or more assets. The system can include a second component configured to forecast a projected cost to perform at least one repair on the one or more assets based at least in part upon the historic data that is evaluated.

In an embodiment, a system can be provided that includes means for evaluating a portion of historic data related to a cost of a repair on one or more assets. The system can include means for identifying at least one repair to perform on the one or more assets. The system can include means for forecasting a projected cost to perform the at least one repair on the one or more assets based at least in part upon the evaluated portion of historic data.

BRIEF DESCRIPTION OF THE DRAWINGS

Reference is made to the accompanying drawings in which particular embodiments and further benefits of the invention are illustrated as described in more detail in the description below, in which:

FIG. 1 is an illustration of an embodiment of a system for indicating a projected cost for a repair to be performed on one or more assets;

FIG. 2 is an illustration of an embodiment of a system for utilizing a portion of repair data or a portion of invoice data to forecast a projected cost for at least one repair;

FIG. 3 is an illustration of an embodiment of a system for managing an inventory of one or more parts utilized in one or more repairs on an asset;

FIG. 4 is an illustration of an embodiment of a system for evaluating whether to replace a part used in a repair procedure or repair a part used in a repair procedure; and

FIG. 5 illustrates a flow chart of an embodiment of a method for identifying a projected cost to perform at least one repair on one or more assets.

DETAILED DESCRIPTION

Embodiments of the invention relate to methods and systems for forecasting a projected cost for at least one repair associated with one or more assets. Based on evaluation of a portion of historic repair data for the one or more assets, a forecast component can create a projected cost to perform a repair. A cost component can aggregate or receive a portion of historic data related to repair costs previously performed. The cost component can further ascertain a repair cost per duration of time for an asset. Based on at least one of the portion of historic data or the repair cost per duration of time, the forecast component can indicate a projected cost for at least one repair for one or more assets.

With reference to the drawings, like reference numerals designate identical or corresponding parts throughout the several views. However, the inclusion of like elements in different views does not mean a given embodiment necessarily includes such elements or that all embodiments of the invention include such elements.

The term “component” as used herein can be defined as a portion of hardware, a portion of software, or a combination thereof. “Hardware” refers to electronic circuits/circuitry, logic circuits/circuitry, and/or one or more processing elements (e.g., microprocessors) that is configured for the carrying out of one or more functions and/or methods (e.g., functions and/or methods as set forth herein), through execution of associated software (stored in a non-transitory electronic-readable medium, which may be part of the hardware), through the arrangement of the circuits/circuitry, and/or otherwise. “Software” refers to instructions that are readable and/or executable by hardware, stored in non-transitory electronic-readable media, which cause the hardware to perform designated functions, designated actions, and/or behave in a desired manner. “Non-transitory electronic-readable media” include, but are not limited to, non-volatile RAM, ROM, PROM, etc., a CD-ROM, a removable flash memory card, a hard disk drive, a magnetic tape, a floppy disk, and/or combinations thereof. The term “client asset” or “asset” as used herein means a fixed asset or a mobile asset that is owned and/or operated by a client entity such as, for example, a railroad, a power generation company, a shipping company (e.g., land, sea, air, and/or an combination thereof), a mining equipment company, an airline, or another asset-owning and/or asset-operating entity. The term “vehicle” as used herein can be defined as an asset that is a mobile machine or a moveable transportation asset that transports at least one of a person, people, or a cargo. For instance, a vehicle can be, but is not limited to being, a rail car, an intermodal container, a locomotive, a marine vessel, mining equipment, a stationary power generation equipment, industrial equipment, construction equipment, and the like. The term “repair facility” as used herein can be defined as a location that evaluates and/or performs a repair on a vehicle or other client asset. The term “Car Repair Billing” (CRB) as used herein can be defined as a computer-implemented system with a portion of software, a portion of hardware, or a combination thereof that facilitates reporting and/or invoicing railroads, car owners, client asset owners, vehicle owners, lessee, lessor, among others. CRB includes Association of American Railroads (AAR) administered as well as contract billing, and another suitable billing for railroads.

The term “Maintenance Management System” (MMS) as used herein can be defined as a computer-implemented system with a portion of software, a portion of hardware, or a combination thereof that facilitates analyzing repairs for a vehicle and/or auditing repairs for a vehicle to railroads, car owners, client asset owners, vehicle owners, lessee, lessor, among others. The MMS can receive repair information from a repair facility. The vehicle owner can use MMS to input repair data received from repair facility and then views, audits, pays, etc. based on the data received. The term “part” as used herein can be defined as a portion of a client asset and/or a portion of a vehicle, wherein the “part” is involved in a repair for at least one of the client asset or the vehicle. The term “ownership” as used herein can be defined as proof of legal claim to property such as a vehicle. The proof can be a title, a lease agreement, a contract, a legal document, a purchase agreement, among others. The term “repair” as used herein can be defined as a service on a vehicle, wherein the service can be a repair of a part, a replacement of a part, a maintenance of a part, a repair of a portion of the vehicle, a replacement of a portion of the vehicle, a maintenance of a portion of the vehicle, and the like. The term “real-time” as used herein can be defined as occurring upon receipt of data or a point later in time from receipt of data.

“Cost” refers to the price paid, or expected to be paid, in exchange for a repair. Cost can refer to all or a part of a transaction, and can be segmented using modifiers such as labor cost, parts costs, rental costs, lost opportunity costs, and the like. The cost can be owed and payable immediately, or can be accrued for later payment. Further, costs may be offset against, for example, credits and may not refer directly to an amount for a single transaction. Even further, discounts for volume, for loyalty programs, and for other aspects may affect a determined cost. Thus, cost should be considered in its broadest reasonable sense as modified by context.

FIG. 1 is an illustration of a system 100 for indicating a projected cost for a repair to be performed on one or more assets. The system includes a cost component 110 that can be configured to receive or aggregate repair information related to one or more assets. The repair information (e.g., also referred to as a portion of historic data related to a cost of a repair for one or more assets) can relate to a cost of money for a previously performed repair on one or more assets. The system includes a forecast component 120 that can be configured to generate a projected cost for a repair to be performed on one or more assets based upon the evaluation of the repair information (via the cost component). The cost component can be a stand-alone component (as depicted), incorporated into the forecast component, or a combination thereof. The forecast component can be a stand-alone component (as depicted), incorporated into the cost component, or a combination thereof.

The cost component can receive or collect real-time data associated with a quote for a cost for a repair to perform, wherein the cost can be from a seller. For instance, the cost can include a cost of one or more part(s) used to perform the repair and/or a labor fee related to perform the repair. In another example, the cost component can evaluate a portion of historic data related to the cost of the repair to ascertain a cost fluctuation over a time period. In an embodiment, the forecast component can utilize the ascertained cost fluctuation over the time period to create the projected cost. In another example, a season or timing of a purchase can be utilized to identify pricing patterns for a repair or a part used with a repair. The forecast component can leverage an identified pricing pattern to forecast a projected cost for a repair to be performed on one or more assets.

For instance, a query can be received related to one or more assets in evaluating a cost for maintenance or repairs for a duration of time or a point of time in the future. The system can leverage repair information in order to generate a projected cost for the query for the point of time or the duration of time. In an embodiment, the projected cost can be identified for an amount of repairs that are to be performed (e.g., identification of incoming repairs that are to be performed on one or more assets, among others). In an embodiment, the projected cost can be identified for an amount of repairs that may be performed (e.g., forecasting, projecting, hypothetical situations, among others).

The system (via the cost component and/or the forecast component) can generate a projected cost based on the repair information. In an embodiment, the cost component can evaluate the repair information to identify a cost per a duration of time for each repair previously performed, wherein the forecast component utilizes the cost per the duration of time to generate a projected cost for a query or a repair to perform. For instance, based on repair information, repair A is performed on asset B every two weeks with a cost of C. Based on this example, a cost per a duration of time for repair A on an asset B (or a similar asset) can be C/(two weeks), which can be utilized to generate a projected cost for the repair for a different duration of time and/or a varying number of assets.

In another embodiment, the cost component can calculate an average cost for a repair based on evaluation of historic data related to the repair, wherein the forecast component utilizes the average cost for each repair to generate a projected cost for a query or an identified repair that is to be performed. In another embodiment, a real-time quote aggregator can be utilized. In another embodiment, a combination of the above techniques (e.g., average cost, cost per duration of time, real-time quote, among others) can be utilized to create a projected cost. In an embodiment, the cost component can calculate a transportation cost for delivery of the one or more assets to a repair facility, wherein the forecast component can include the transportation cost with the projected cost (e.g., each repair facility quote for a repair is matched or associated with the respective transportation cost).

FIG. 2 is an illustration of a system 200 for utilizing a portion of repair data or a portion of invoice data to forecast a projected cost for at least one repair. The system can provide a projected cost for a repair to perform on one or more assets based on a portion of repair information collected or received. The projected cost can be for a query based on a hypothetical scenario, financial situation, budget question or concern, or a related cost of repair concern. For instance, a system (not shown) can predict a repair to be performed and the cost component and/or the forecast component can identify a projected cost based on the predicted repair utilizing the repair information. Additionally, the projected cost can be for an identified repair that is to be performed. For instance, the projected cost for a list of repairs that are to be performed on assets can be indicated based on the repair information.

By way of example and not limitation, repair information can be a previous repair on an asset, a part used in a repair on an asset, a date or time a repair was performed on an asset, a repair facility that performed the repair on the asset, repair details (e.g., who performed repair, issues related to performing the repair, duration of time to complete repair, downtime for the asset that received the repair, among others), financial information related to the repair (e.g., cost of repair, cost of part(s) for repair, among others), an invoice for a repair, asset information (e.g., type of asset, use of asset, cargo load of asset, location of asset, conditions of use for asset, owner of asset, pricing contract for repairs to the asset, among others), data related to Maintenance Management System (MMS), data related to Car Repair Billing (CRB), and the like.

The system can be utilized with a suitable Car Repair Billing (CRB), a CRB database 210, Maintenance Management System (MMS), and/or a MMS database 220, as well as an environment (e.g., user, repair shop, company, entity, corporation, among others) that employs CRB and/or MMS. For instance, the CRB database and/or the MMS database can be utilized by the cost component in order to ascertain at least one of a history of repair(s), repairs performed, duration of repair, frequency of repair, part(s) used for a repair on an asset, cost of a repair, among others.

FIG. 3 is an illustration of a system 300 for managing an inventory of one or more parts utilized in one or more repairs on an asset. The cost component can evaluate a portion of historic data related to a cost of a repair on one or more assets (e.g., also referred to as repair information). Based at least in part upon the evaluation, the forecast component can generate a projected cost related to a repair that is to be performed on one or more assets. By basing the projected cost on historical data, an accurate projection or forecast for repair costs can be budgeted and/or managed effectively.

The system includes an inventory component 310 that can be configured to manage an inventory of one or more parts used for at least one repair on the one or more assets. The inventory component 310 can utilize the repair information (e.g., identifying a repair and a part(s) used for completed repairs and/or orders for new/incoming part(s), among others) to maintain an accurate quantity of part(s) within the inventory. For instance, the inventory component can provide automatic generation of purchase orders for one or more part(s), user-controlled generation of purchase orders, automated notification of inventory quantity for each part(s), or a combination thereof. The inventory component can communicate a purchase order to one or more sellers 320, where there can be a number of sellers such as seller₁ to seller_(N), where N is a positive integer. For instance, a seller can be a manufacturer, a repair facility, a vendor, a merchant, a manufacturer, among others. In another embodiment, the inventory component can order a part(s) from the one or more sellers. The inventory component can be a stand-alone component (as depicted), incorporated into the cost component, incorporated into the forecast component, or a combination thereof.

The system includes a discount component 330 that can be configured to identify a discount for a placement of an order for one of a part or a repair. For instance, the discount can be, but is not limited to, a bulk discount, a sale (e.g., buy one, get one free, percentage off, among others), a price discount, among others. The discount component can evaluate a potential purchase of a part (used for a repair or to replenish an inventory) or a potential purchase of a repair to perform, wherein the discount component can utilize historic purchasing information or received/collected discounts to identify discounts that are available for use. For instance, a quantity of a part can yield a discount at a particular seller and the inventory component can order the quantity or wait until the quantity is needed. In another example, a discount can be identified for a quantity of a number of repairs provided at a repair facility (e.g., buy one repair and get one repair free). The discount component can be a stand-alone component (as depicted), incorporated into the cost component, incorporated into the forecast component, incorporated into the inventory component, or a combination thereof.

In an embodiment, the cost component, the forecast component, the inventory component, and/or the discount component stores information related to the systems 100, 200, 300, and/or 400 with a data store 340. The connectivity of between the data store and the component(s) and/or system can be a wireless connection (as depicted), a wired connection, or a combination thereof. The data store can include information such as, but not limited to, an invoice, asset information, repair history for an asset, location for a repair facility, contact information for a seller, contact information for a repair facility, a repair cost, a type of repair, information related to an asset, ownership of an asset, historical data related to an invoice, historical data related to a cost for a repair, information related to a repair facility, address of repair facility, among others, and/or a suitable combination thereof.

It is to be appreciated that the data store can be, for example, either volatile memory or nonvolatile memory, or can include both volatile and nonvolatile memory. The data store of the subject systems and methods is intended to comprise, without being limited to, these and other suitable types of memory. In addition, it is to be appreciated that the data store can be a server, a database, a hard drive, a flash drive, an external hard drive, a portable hard drive, a cloud-based storage, and the like.

FIG. 4 is an illustration of a system 400 for evaluating whether to replace a part used in a repair procedure or repair a part used in a repair procedure. The system includes a procedure component 410 that can be configured to ascertain whether to perform a repair on a part used in a repair or to replace a part used in the repair. The procedure component can identify whether to repair or replace a part based on evaluating a factor, wherein the factor can be at least one of a cost of a part, a cost of labor to repair the part, a duration of downtime for the asset the part is used, an inventory quantity of the part, a difficulty assigned to the repair of the part, among others. The procedure component can include a setting to prioritize (e.g., weighted, among others) each factor to identify a selection of repair or replace. The data store (referenced above) can be leveraged by the procedure component to store the factor(s) and/or access historic data related to factors to provide whether to repair a part or replacement the part. Although depicted as a stand-alone component, the procedure component can be incorporated into the cost component, incorporated into the forecast component, or a suitable combination thereof.

In an embodiment, a system is provided that includes at least one of the following: means for evaluating a portion of historic data related to a cost of a repair on one or more assets (e.g., system 100, a controller, a component, cost component, among others); means for identifying at least one repair to perform on the one or more assets (e.g., system 100, a controller, a component, cost component, forecast component, among others); and means for forecasting a projected cost to perform the at least one repair on the one or more assets based at least in part upon the evaluated portion of historic data (e.g., system 100, a controller, a component, forecast component, among others).

The aforementioned systems, components, (e.g., cost component, forecast component, procedure component, inventory component, among others), and the like have been described with respect to interaction between several components and/or elements. It should be appreciated that such devices and elements can include those elements or sub-elements specified therein, some of the specified elements or sub-elements, and/or additional elements. Further yet, one or more elements and/or sub-elements may be combined into a single component to provide aggregate functionality. The elements may also interact with one or more other elements not specifically described herein.

In view of the exemplary devices and elements described supra, methodologies that may be implemented in accordance with the disclosed subject matter will be better appreciated with reference to the flow chart of FIG. 5. The methodologies are shown and described as a series of blocks, the claimed subject matter is not limited by the order of the blocks, as some blocks may occur in different orders and/or concurrently with other blocks from what is depicted and described herein. Moreover, not all illustrated blocks may be required to implement the methods described hereinafter. The methodologies can be implemented by a component or a portion of a component that includes at least a processor, a memory, and an instruction stored on the memory for the processor to execute.

FIG. 5 illustrates a flow chart of a method 500 for identifying a projected cost to perform at least one repair on one or more assets. At reference numeral 510, a portion of historic data related to a cost of a repair on one or more assets can be evaluated. At reference numeral 520, at least one repair to perform on the one or more assets can be identified. At reference numeral 530, a projected cost to perform the at least one repair on the one or more assets can be forecasted based at least in part upon the evaluated portion of historic data.

The method can further include aggregating a real-time quote from at least one repair facility to perform the at least one repair on the one or more assets. The method can further include the quote to include a cost for at least one part related to the at least one repair and a cost for a labor fee related to the at least one repair. The method can further include evaluating the portion of historic data related to the cost of the repair to ascertain a cost fluctuation over a time period and utilizing the cost fluctuation over the time period to create the projected cost. The method can further include receiving the portion of historic data from a Maintenance Management System (MMS) database. The method can further include receiving the portion of historic data from a Car Repair Billing (CRB) database.

The method can further include the portion of historic data that is an invoice for the repair on one or more assets. The method can further include calculating a transportation cost for delivery of the one or more assets to a repair facility and including the transportation cost with the projected cost, the transportation cost for the repair facility is associated with a quote from the repair facility. The method can further include evaluating an inventory of one or more parts for the one or more assets and managing a quantity of one or more parts of the inventory based on the evaluation of the inventory and the identification of at least one repair to perform.

The method can further include communicating a purchase order for one or more parts associated with the identification of at least one repair to perform based upon the evaluation of the inventory. The method can further include communicating the purchase order to a seller based on the seller offering a quantity-based discount for the one or more parts. The method can further include ordering one or more parts associated with the identification of at least one repair to perform based on the evaluation of the inventory. The method can further include identifying a frequency of the repair for the one or more assets based on the portion of historic data and generating the projected cost to perform the at least one repair on the one or more assets based on the frequency for a duration of time. The method can further include ascertaining whether to perform a part repair or a part replacement for the at least one repair based on the projected cost.

In the specification and claims, reference will be made to a number of terms that have the following meanings. The singular forms “a”, “an” and “the” include plural referents unless the context clearly dictates otherwise. Approximating language, as used herein throughout the specification and claims, may be applied to modify a quantitative representation that could permissibly vary without resulting in a change in the basic function to which it is related. Accordingly, a value modified by a term such as “about” is not to be limited to the precise value specified. In some instances, the approximating language may correspond to the precision of an instrument for measuring the value. Moreover, unless specifically stated otherwise, a use of the terms “first,” “second,” etc., do not denote an order or importance, but rather the terms “first,” “second,” etc., are used to distinguish one element from another.

As used herein, the terms “may” and “may be” indicate a possibility of an occurrence within a set of circumstances; a possession of a specified property, characteristic or function; and/or qualify another verb by expressing one or more of an ability, capability, or possibility associated with the qualified verb. Accordingly, usage of “may” and “may be” indicates that a modified term is apparently appropriate, capable, or suitable for an indicated capacity, function, or usage, while taking into account that in some circumstances the modified term may sometimes not be appropriate, capable, or suitable. For example, in some circumstances an event or capacity can be expected, while in other circumstances the event or capacity cannot occur—this distinction is captured by the terms “may” and “may be.”

This written description uses examples to disclose the invention, including the best mode, and also to enable one of ordinary skill in the art to practice the invention, including making and using a devices or systems and performing incorporated methods. The patentable scope of the invention is defined by the claims, and may include other examples that occur to one of ordinary skill in the art. Such other examples are intended to be within the scope of the claims if they have structural elements that do not differentiate from the literal language of the claims, or if they include equivalent structural elements with insubstantial differences from the literal language of the claims. 

What is claimed is:
 1. A method, comprising: evaluating, with at least one component, a portion of historic data related to costs for repairing one or more assets; identifying, with the at least one component, at least one repair to perform on the one or more assets; and forecasting, with the at least one component, a projected cost to perform the at least one repair on the one or more assets based at least in part upon the portion of the historic data that is evaluated.
 2. The method of claim 1, further comprising aggregating a real-time quote from at least one repair facility to perform the at least one repair on the one or more assets.
 3. The method of claim 2, wherein the quote includes a cost for at least one part related to the at least one repair and a cost for a labor fee related to the at least one repair.
 4. The method of claim 1, further comprising: evaluating the portion of the historic data to ascertain a cost fluctuation over a time period; wherein the projected cost is forecasted based at least in part on the cost fluctuation over the time period.
 5. The method of claim 1, further comprising receiving the portion of the historic data from a Maintenance Management System database.
 6. The method of claim 1, further comprising receiving the portion of the historic data from a Car Repair Billing database.
 7. The method of claim 1, wherein the portion of the historic data comprises at least one invoice for repairing the one or more assets.
 8. The method of claim 1, further comprising: calculating a transportation cost for delivery of the one or more assets to a repair facility; and including the transportation cost with the projected cost, wherein the transportation cost for the repair facility is associated with a quote from the repair facility.
 9. The method of claim 1, further comprising: evaluating an inventory of one or more parts for the one or more assets; and managing a quantity of the one or more parts of the inventory based on the evaluation of the inventory and the identification of the at least one repair to perform.
 10. The method of claim 9, further comprising communicating a purchase order for one or more parts associated with the identification of the at least one repair to perform based upon the evaluation of the inventory.
 11. The method of claim 10, further comprising communicating the purchase order to at least one of a repair facility or a seller based on an offering of a quantity-based discount for the one or more parts.
 12. The method of claim 9, further comprising ordering at least one of the one or more parts associated with the identification of the at least one repair to perform based on the evaluation of the inventory.
 13. The method of claim 1, further comprising: identifying a frequency of repairing the one or more assets based on the portion of historic data; wherein the projected cost is forecasted based on the frequency for a duration of time.
 14. The method of claim 1, further comprising ascertaining whether to perform a part repair or a part replacement for the at least one repair based on the projected cost.
 15. A system comprising: a first component configured to evaluate a portion of historic data related to costs for repairing one or more assets; and a second component configured to forecast a projected cost to perform at least one repair on the one or more assets based at least in part upon the historic data that is evaluated.
 16. The system of claim 15, wherein the historic data relates to costs for repairing the one or more assets for a period of time, and wherein the second component is configured to forecast the projected cost based at least in part upon the historic data that relates to the costs for repairing the one or more assets for the period of time.
 17. The system of claim 15, further comprising a third component configured to adjust the projected cost for the at least one repair to be performed based on a quote from a repair facility to complete the at least one repair to be performed, wherein the quote includes a cost for at least one part related to the at least one repair to be performed and a cost for a labor fee related to the at least one repair to be performed.
 18. The system of claim 15, further comprising a fourth component configured to manage an inventory of one or more parts utilized to perform the at least one repair on the one or more assets.
 19. The system of claim 18, wherein the fourth component is further configured to order the one or more parts from at least one of a repair facility, a vendor, a merchant, or a manufacturer.
 20. The system of claim 19, further comprising: a fifth component configured to identify a quantity of one of the one or more parts which yields a discount from said at least one of the repair facility, the vendor, the merchant, or the manufacturer; and the fourth component is configured to order the quantity from said at least one of the repair facility, the vendor, the merchant, or the manufacturer based on the discount. 